BioAmber closes US $20M public offering, repays loan

BioAmber Inc. (NYSE: BIOA) disclosed that on January 27th, 2017 BioAmber closed on its previously announced public offering of 4,236,844 units, including full exercise of underwriters’ option, at US $4.75 per unit for gross proceeds of US $20.1 million.

A portion of these securities was issued in Canada on a private placement basis. Rodman & Renshaw, a unit of H.C. Wainwright & Co., acted as the sole book-running manager in connection with this offering and AltaCorp Capital, Cormark Securities and Clarus Securities acted as co-managers.

BioAmber subsequently reimbursed its CDN $25 million or US $19.3 million loan with Bridging Finance Inc. Following the repayment of this loan, BioAmber has no corporate debt.

photo credit: BioAmber

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.